Ken Griffin’s Citadel Investment Group revealed its 5.1% passive stake in Comstock Resources Inc. (CRK) and 5.3% passive stake in PrivateBancorp, Inc. (PVTB) on October 25th. According to the releases, Citadel Investment Group now has 2.41 million shares in CRK and 3.77 million shares in PVTB, up from its previous position of 8,600 shares and 38,809 shares respectively. The two stocks have similar paths in 2011, and both of them have lost 28% year to date. CRK is now trading at 17.63, and PVTB is closed at $10.30.
Five hedge funds had small positions in CRK in the second quarter. Israel Englander’s Millennium Management had 209 thousand shares, while the other hedge funds only retained a few thousand of shares.
PVTB was in thirteen hedge funds in the second quarter. John W. Rogers’ Ariel Investments had the most, with 2.41 million shares. Robert Pohly’s Samlyn Capital had 386 thousand shares, and Israel Englander’s Millennium Management had 365 thousand shares.
Ken Griffin is the founder and CEO of Citadel Investment Group. The firm is based in Chicago, and ranks among the largest and most successful hedge funds in the world. He avoided extensive press coverage in manners similar to other hedge funds for several years. Ken Griffin has a personal net worth of $2.3 billion as of 2011, making him the 512th richest man in the world. Citadel Investment Group had a portfolio value of nearly $43 billion in the second quarter.
Comstock Resources, Inc. belongs to the oil & gas industry. The company engages in the acquisition, development, production, and exploration of oil and natural gas properties. The company’s operations are primarily located in East Texas/North Louisiana and South Texas. The company was founded in 1919 and is based in Frisco, Texas.
PrivateBancorp, Inc. is the holding company of the subsidiaries: PrivateBank and Trust Company. The company provides business and personal financial services to middle-market companies and business owners, executives, entrepreneurs, and families in the United States. The company operates business segments including Banking, Wealth Management and Holding Company Activities. The company was founded in 1989 and is based in Chicago, Illinois.